The underlying logic of $ETH taking off is confusing for most people, while some can see the institutions entering the market. But the most important issue is the liquidity pledge behind it! Currently, nearly 30% of the liquidity of the second token has been pledged (see the picture) 35,720,503 pieces!

This means that this 30% of liquidity, regardless of whether it's sunny or rainy, will remain unchanged in price fluctuations. The most important thing is that the BlackRock ETF behind the second token is applying for a pledge. Currently, it is not allowed for ETFs to pledge, and already 30% of liquidity is pledged. If ETF pledging is approved, the liquidity pledge will reach at least 60% or more.

I ask everyone, if more than 60% of a token's chips are in a pledged state, unmovable, and it will continue to absorb another 40% of the unpledged chips, with circulation becoming less and less, wouldn't the rise in price become normalized? This is why I have always insisted on continuously entering the market during pullbacks!

(This article references investment research from Jianjian, Jian Ge's thoughts, and I happen to be on the bullish path myself, which has strengthened my confidence.)